February

A mixed bag for liquidators in High Court decisions on claims of unfair preference or other voidable transactions - Insolvency practitioners and creditors facing voidable transaction claims will need to reassess the value of any potential or threatened unfair preference claims or other voidable transaction claims, following two important insolvency decisions in the High Court this morning (Metal Manufactures Pty Limited v Morton [2023] HCA 1; Bryant v Badenoch Integrated Logging Pty Ltd [2023] HCA 2).
ASIC changes to the new employee share scheme regime for listed entities - From 1 March 2023, listed entities will be unable to make new offers under ASIC’s existing relief for employee incentive schemes in Class Order [CO 14/1000] Employee Incentive Schemes: Listed bodies.
ASIC changes to the new employee share scheme regime for unlisted entities - Unlisted entities will no longer be able to make new offers under ASIC’s existing relief for employee incentive schemes in Class Order [CO 14/1001] Employee Incentive Schemes: Unlisted bodies from 1 March 2023.
ASIC's 2023 regulatory timetable, updated enforcement priorities and latest enforcement and regulatory report - ASIC has released an update of its enforcement priorities and regulatory timetable for 2023, coinciding with the release of its latest enforcement and regulatory report (Report 757). The update provides further clarity and insight for regulated entities into the corporate regulator's approach and focus areas for 2023.
Attorney-General releases report following two-year review of the Privacy Act - The Attorney-General's Department has released a report containing 116 proposals to enhance the Privacy Act. Responses are due 31 March 2023.
Australia’s Emissions Safeguard Mechanism gets teeth - Until 24 February 2023, the Government is consulting on the specific details of its proposed Safeguard Mechanism reforms.
Australian Government releases final report of the Levy Quality of Advice Review - Further consultation is promised, but it’s unclear if bold reforms to financial advice will follow.
Business interruption insurance for COVID-19 – do you have a valid claim? - If your business was interrupted and you suffered losses due to COVID-19, you may have a valid claim against your insurer, if your insurance policy provided cover for losses caused by an outbreak of disease within a specified area around your premises (ie. a “disease clause”).
Do new security of critical infrastructure rules apply to you? - Aimed at protecting the nation’s critical infrastructure from cyber risks, the Security of Critical Infrastructure Act 2018 (Cth) (SOCI Act) applies to a wide range of assets across 11 industries.
Environment and Sustainable Development 5 Minute Fix 34: Safeguard Mechanism, hydrogen, offshore petroleum, critical minerals - The Environment and Sustainable Development 5 Minute Fix is a snapshot of need-to-know news on a range of ESD issues nationally. This edition focuses on the latest in climate change, waste, energy, resources, ESG, biodiversity, and environmental protection.
Fraud associated with flexible work arrangements added to the list of COVID side effects - Exploiting gaps to perpetrate expensive and ongoing payroll fraud is more likely every day as employees come under pressure from rising interest rates, inflation and employment uncertainty. The first step in mapping the deficiencies is to ask the right questions about the prevention, detection and response of flexible working arrangements.
High Court affirms and bolsters the rules of unilateral waivers in contract law - The High Court of Australia has confirmed that a gratuitous waiver of a right or power under a contract is only irrevocable in exceptional circumstances.
High Court to finally resolve Future Acts for purposes ancillary to mining under the Native Title Act - A recent grant of special leave to appeal in Harvey v Minister for Primary Industry and Resources [2022] FCAFC 66 has left the door open for the High Court to consider the proper scope of the Future Act provisions of the Native Title Act 1993 (Cth) concerning the grant of a mining tenement for a purpose ancillary to or associated with mining.
Historic commitment to conserve 30% of the world’s terrestrial and marine areas adopted at COP15 - COP15 has resulted in a historic voluntary agreement to protect biodiversity including the “30 by 30” commitment: conservation of 30% of the world's lands and waters by 2030.
Litigation 101: Evidence – using foreign law in Australian litigation - In Australian courts, foreign law is viewed as a question of fact that is proved by expert evidence. Taking steps to early identify and retain a foreign law expert can be critical for the development of your case theory in a litigation.
Media release: Clayton Utz CEP Elect names Nick Cooper as Deputy Chief Executive Partner - Clayton Utz CEP Elect Emma Covacevich has chosen Perth partner Nick Cooper to be our firm's next Deputy Chief Executive Partner (DCEP), effective 1 July 2023.
Media Release: Clayton Utz congratulates Bridge Housing on successful bid to develop landmark Elizabeth Street social and community housing project - A Clayton Utz team is celebrating our client Bridge Housing’s successful tender to develop the landmark $230 million Elizabeth Street project in Sydney’s Redfern.
Media Release: Clayton Utz welcome alumnus Matt Kelleher as a partner in our Workplace Relations team - Matt Kelleher has joined Clayton Utz as a partner in our national Workplace Relations, Employment and Safety (WRES) team, based in Melbourne
Media Release: Education and reform key to turning around attitudes to turnaround professionals - More Australian businesses in financial difficulty are embracing a ‘turnaround’ culture, but further structural reforms are needed to shift attitudes towards the use of turnaround professionals, according to Clayton Utz Restructuring & Insolvency partner, Cameron Belyea.
Media Release: Planning law specialist Wendy Evans joins Clayton Utz as a partner in Brisbane - Clayton Utz has expanded our Environment & Sustainable Development (ESD) team in Brisbane with the appointment of planning lawyer Wendy Evans as a partner.
NSW EPA to limit GHG emissions under new Climate Change Policy and Action Plan - The NSW EPA has committed to regulating greenhouse gas emissions via limits to be introduced on Environment Protection Licences under its new Climate Change Policy and Action Plan.
NSW Generation LTESAs – Top 10 Bankability Considerations - The New South Wales Government is leading the Australian market in many areas of Government-facilitated renewables development: most notably in the creation and development of various Renewable Energy Zones (REZs) around the state and, recently, with the creation and development of Long-Term Energy Service (and Storage) Agreements (LTESAs).
Properly made development applications in Queensland – when is the consent of a body corporate required? - Owner’s consent from a body corporate will be required where there is a material increase in the intensity or scale of use of the common property.
The age of the self-driving bureaucracy? ChatGPT and the Public Sector - The potential use cases for ChatGPT offer incredible opportunities for government as it seeks to improve service delivery and save money, but care is needed to mitigate the public sector's unique risks.
The ipso facto stay in voluntary administration: first decision gives some (limited) guidance - The first reported decision on the ipso facto stay provisions of the Corporations Act provides clarity that they operate as intended in voluntary administration - leaving the trickier issues for another day.
The use of AI in insurance: When will the hype become help? - ChatGPT offers much potential to insurers and insureds, but the industry will need to proceed cautiously as the technology matures.

Disclaimer

Clayton Utz communications are intended to provide commentary and general information. They should not be relied upon as legal advice. Formal legal advice should be sought in particular transactions or on matters of interest arising from this communication. Persons listed may not be admitted in all States and Territories.